Manager: Remuneration And Benefits (Ref: Remb001) at Public Investment Corporation

Purpose of the role: 

To manage remuneration and benefits through analysis, development, evaluation and implementation of the PIC compensation and benefits plans. To ensure that programs are designed to attract, retain and motivate a highly skilled workforce while ensuring compliance with governmental regulations, internal equity and competitive pay structure. 

Requirements:

• Grade 12 
• Bachelor’s degree in Human Resources or related fields/ equivalent qualification 
• 5 – 8 years related experience in Remuneration and Benefits 
• SARA Registered Reward Specialist and GRP Certified. 
• Extensive experience in remuneration and benefits compliance-related matters. 
• Extensive experience in remuneration and benefits models and practices, especially incentive schemes in the Financial and Asset management industry. 

Duties:

• Formulate and implement Remuneration Strategies, Policy and Standard operations Processes. 
• Develop remuneration philosophy and guiding principles for PIC 
• Provide consultation on remuneration, benefits and incentives administration. 
• Participate, recommend and provide professional advice on remuneration matters including policy development and reviews that enhance PIC’s employee value proposition. 
• Design and implement remuneration and incentive schemes congruent with PIC strategic objectives and remuneration philosophy 
• Establish and implement an appropriate remuneration infrastructure. 
• Conduct research into remuneration and Human Capital policies. 
• Research and implement up-to-date and most active remuneration processes 
• Apply knowledge of the business units needs to drive remuneration-oriented interventions 
• Manage remuneration administration processes including payroll function (accountable for review and efficacy) 
• Demonstrate experience by being a trusted advisor and expert in remuneration trends and application thereof to better position PIC 
• Accomplish human capital department and organization mission by completing ad-hoc duties as needed. 
• Communicate and educate employees on remuneration-related issues including but not limited to incentive schemes in place, salary packaging and composition. 
• Perform relevant remuneration and benefits benchmarks through annual market surveys and provide reports on market and internal trends that will ensure fairness, market competitiveness and support the achievement of business objectives. 
• Analyses market data and makes recommendations on salary scales, market positioning, pay structuring etc. to ensure internal parity, market competitiveness and to support the achievement of business objectives 
• Perform internal parity analysis and propose remuneration packages for job offers, promotions and alignments when required. 
• Analyse remuneration structures to identify parity issues as well as areas for improvement and propose appropriate solutions. 
• Initiate and drive ad-hoc Remuneration and benefits projects and data audits to ensure compliance. 
• Manage and maintain inventory of organisation’s owned risk-benefit and retirement schemes, coordination of data for annual renewals, payment of premiums and cost re-allocations.
• Provides guidance to Line Managers and HR Business Partners on reward matters. 
• Advise employees on the retirement plans and liaise with 3rd parties on the medical aid plans. 
• Facilitate and coordinate the job profiling and evaluation process across the organisation to ensure internal and external equity 
• Comply with remuneration frameworks that effectively govern employee remuneration and benefit changes in accordance with legislation, the rules of the relevant Benefit Funds, PIC requirements, governing bodies such as SARS, FSCA and Board decisions. 
• Responsible for data analysis and reporting on remuneration and rewards projects 
• Maintain effective and efficient relationships with external service providers 

Competencies and skills: 

• Team player who is detail-oriented 
• Planning and organising 
• Good reporting, proposal compilation, analysing and interpretation skills 
• Communication skills 
• Interpersonal skills 
• Ability to work under pressure 
• Written and telephonic skills 
• Budget Management skills 
• General understanding and knowledge of other HR functions to form synergy 
• Knowledge of relevant HR systems, applications, tools, metrics data and business intelligence tactics